Economic report 2024: Saarland stumbles between decline and stability

Economic report 2024: Saarland stumbles between decline and stability

Economic development in Saarland shows a mixed picture for 2024. On December 9, 2024, the State Statistical Office published the preliminary figures that extend until autumn and cover various industries, price developments and the labor market. The processing sector recorded a clear decline in the first three quarters. In particular, high energy costs and structural challenges meant that both the demand and production performance came under great pressure. Compared to the previous year, the orders decreased by 6.4 percent, with a more drastic decline in 18.4 percent in foreign orders, while a few segments, such as food production, were able to achieve relative profits, so Saarnews.com .

construction industry and trade area in the focus

In construction, there was an increase in the order incoming, but sales remained slightly below expectations. High costs led to a decline in construction activity, while permits for new projects recorded a strong minus of 41.4 percent. The retail trade, on the other hand, saw a slight decline in sales in the food sector, while the car trade was able to record a small plus. The hospitality also experienced a decline in the number of overnight stays and guests compared to the previous year, the revenues decreased in both areas, so Saarland.de .

The labor market situation shows a certain stability, although unemployment has increased by 5.0 percent by the end of November 2024. Long -term unemployed people who make up an alarming share of 35.5 percent of all unemployed are particularly affected. Despite these negative tendencies, there are bright spots, among other things in the less affected segments of the economy, which have contributed to the fact that the overall situation is not even more serious.